Europe’s Cheapest Golden Visa? Latvia Offers Residency from €50,000: Investors seeking European Union residency now have an attractive route through Latvia’s Golden Visa programme. By investing a minimum of €50,000 into a Latvian company and ensuring it pays at least €40,000 in annual taxes, applicants gain a five-year renewable residency permit. Additionally, investors must make a one-off €10,000 donation to the Latvian government, with standard application and processing fees applying.
Key Facts About Latvia’s Golden Visa
- Minimum investment: €50,000 into a Latvian company
- Government donation: €10,000
- Residency: Full family residency included
- Duration: Five-year permit, renewable
- Residency requirement: Flexible; no need to reside full-time
- Travel: Access to the EU Schengen visa zone
- Currency: Eurozone member
Latvia, located in Northern Europe, offers investors easy travel across the 26 Schengen countries, including Germany, France, Spain, and Italy. Its capital Riga is just a 90-minute flight from Moscow, making it a popular choice among Russian investors. Most Latvians speak Russian, further facilitating business and settlement for CIS nationals.
Permanent Residency and Citizenship Pathway
After five years of residence, investors can apply for Latvian Permanent Residence, provided they have lived in the country for at least four of those years and demonstrate knowledge of the Latvian language, general history, and national anthem.
For those seeking citizenship, Latvia requires 10 years of residency with physical presence for the majority of this time. Currently, there is no direct citizenship by investment route, but successful applicants gain a Latvian passport ranked highly in global passport value indexes.
Investment Options and Benefits
Latvia’s Golden Visa programme offers two pathways:
- Entry-Level Company Investment: From €50,000
- Enhanced Business Investment: From €100,000
Both require a €10,000 government donation.
Key benefits include:
- Five-year renewable residency permit
- Family inclusion (spouse and dependent children)
- No minimum residency required to maintain the permit, but annual visits to Latvia are mandatory
- Opportunity for returns on investment
- Potential citizenship after 10 years
Required Documents for Application
- Valid passport
- Proof of qualifying investment
- Financial statements
- Clean criminal record (police clearance)
- Health insurance
Latvia’s Golden Visa remains a cost-effective and flexible gateway to Europe for global investors. Its strategic location, Eurozone status, and access to the Schengen area make it an ideal choice for those seeking business growth, secure residency, and future citizenship within the European Union.
